Thinking of getting into business with Global Trader? Here is what you must know about this broker. Carefully read this review to find out if globaltrader.io is the trading platform you will want to trade with.
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About Global Trader Broker
Global Trader is an offshore brokerage company with a lot of promises for traders. The broker shows it is from London.
There are different account types the broker offers. See below.
To clarify, in spite the trading instruments Global Trader claims to offer, traders must know they are dealing with an unknown broker which does not have a regulation over its head.
Here is a warning from Financial Conduct Authority, UK about this broker.
globaltrader.io: Reasons to Avoid This Broker
Firstly, globaltrader.io is a platform with no financial authority overseeing its financial services. The regulation claim is not legit because Financial Conduct Authority, UK does not recognize this broker among its licensed brokers.
Secondly, we noticed globaltrader.io has no demo account for traders. Since traders can’t test Global Trader on a free account, we can’t know its viability in the forex market.
More so, this broker does not offer money back guarantee which means trading on such platform is clearly a risk as your money cannot be refunded.
These are cons for forex traders to avoid losing money with this scam broker. It is always advisable you check for regulated and licensed broker on financial authorities websites before depositing fund for trading.
Withdrawal and Deposit
Withdrawal process
Under the withdrawal policy, Global Trader leaves us with no specific information on what fees forex traders will be charged for any withdrawal nor processing days on each withdrawal. Truly, this broker is a scam and its fraudulent schemes are clear.
Minimum Deposit
Milliva minimum deposit is pegged at $250.
As for the payment methods, Global Trader uses Debit/Credit, Bank Transfer, Neteller, and Skrill. But, you should not consider making any payment with this broker because it is a risk. So beware!
Global Trader Platform
Global Trader offers web based trading platform and not MT4 or MT5 (Industry standard trading platforms) which gives us more reason not to take this broker serious.
As for the leverage, it can get to 1:888. Truly, we say don’t consider doing that with an unregulated forex broker like this one because you stand the chance of losing your money.
Global Trader Licensing and Regulation
It is not far from believing that this broker is not a licensed brokerage firm. It is not under any financial regulation that means your money is at risk. Its unlicensed and unregulated activities are truly a red flag and must be avoided.
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Licensed in Australia(ASIC) and Cyprus(Cysec)
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Minimum Trade Deposit $100
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Conclusion: Is globaltrader.io a Reliable Broker?
No, globaltrader.io does not seem like a reliable broker for traders even though it promises offers that look good to be true.
Most importantly, the broker is unregulated which means it is not authorized to operate in any regulated country and you should definitely not put any money into it.
Because we have taken it as a duty to review scam forex brokers and also share reasons, we will not recommend this broker for trading.
Kindly share your comment about this broker in the comment section.
